A startup is running low on funds and needs to make strategic decisions. According to Lean Startup, what should they do?*1 pointSecure additional venture capitalPivot to a new productSeek a merger with a larger companyPivot or Persevere based on validated learning
Question
A startup is running low on funds and needs to make strategic decisions. According to Lean Startup, what should they do?*1 pointSecure additional venture capitalPivot to a new productSeek a merger with a larger companyPivot or Persevere based on validated learning
Solution
According to the Lean Startup methodology, the startup should "Pivot or Persevere based on validated learning". This means that they should make strategic decisions based on the feedback and data they have gathered from their current business model. If the current model is not working, they may need to 'pivot' and make a fundamental change to the product, strategy, or business model. If the current model is showing promise, they should 'persevere' and continue with their current course. This decision should be based on validated learning, i.e., empirical data gathered from real customers, rather than assumptions or guesses.
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